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Analysts noted that SBI has a high mix of MCLR (41 per cent), EBLR loans (34 per cent), which account for 75 per cent of total book, which puts it in a favorable position to support margins in a rising rate environment.

“Our edible oil revenues are about 80% plus, the balance 20% comes from the non-edible oil portfolio which is a very large food portfolio that we have in the biscuits and confectionery, breakfast cereals etc. We are also in the process of acquiring Patanjali’s food business subject to a couple of approvals which is expected to happen very soon as well,” says Sanjeev K Asthana.

A total of 119,455 shares changed hands on the counter till 02:10PM (IST)

SIS limited informed BSE that the meeting of the Board of Directors of the company is scheduled on June 29, 2022 inter alia to consider and approve the proposal for the buyback of the equity shares of the company as well as matters related to incidental thereto.

After succumbing to a bear market, the S&P 500 Index is seen closing 2022 at 3,700. While that’s far lower than the Wall Street consensus, it’s a modest 5% decline from last week’s close -- and above the lows already notched this year.

“We have reduced the MRP, and we had announced that about a week back. As the prices keep going down, all the commodity players will also have to correct their prices. However, when there is a strong brand like Fortune, we have an advantage where the pass through is not as rapid as consumers do not look at the daily market prices, says Angshu Mallick.”

HDFC Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 750755.34 Crore).

Companies have mitigated this cost impact via price hikes of 5-8 per cent in FY23. They are looking to raise prices further to improve margin.

“Commodity prices have corrected a lot, especially metal prices while oil prices have moderated from high levels. All that is good news and expectations are inflation will not surprise negatively on the higher side. In the second half of FY23, we will see a big decline in inflation just because of the very high base effect of the second half of FY22. ”

The stock has also broken above the neckline from an inverse head and shoulder pattern with higher volumes last week which could take the stock to retest its February highs, suggest experts.